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Company filings information Then we were treated to the shortfall. During a term of eight years, Bill Clinton reversed Reagan's course, raising taxes upon the wealthy, and lowering them for the important and middle classes. This produced the longest sustained economic expansion in American prior. It produced budgetary surpluses allowing federal government to begin paying within the crippling debt begun under Reagan. In 2000, Clinton's last year, the surplus amounted to $236 million. The forecast of a ten-year surplus stood at $5.6 billion. It was the last black ink America would see for decades, perhaps forever.

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